Canadian Financial Close: C$ softens Monday

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly softer on Monday as activity resumed after the long weekend.

The Canadian dollar settled at US$0.7367 or US$1=C$1.3574 on Monday, which compares with Thursday’s close of US$0.7380 or US$1=C$1.3550.

The Bank of Canada’s quarterly business outlook survey showed fewer companies expecting a recession over the next 12 months, although softer consumer demand was still expected. The survey was seen as reinforcing expectations for interest rate cuts from the central bank over the next few months.

Crude oil was slightly stronger, with West Texas Intermediate crude oil up by 0.89 per cent at US$83.91 per barrel.

The TSX Composite Index was up by 18.22 points to close at 21,185.25 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.30

Linamar Corp.——————–dn  $ 0.79    at $ 71.21

Maple Leaf Foods—————–up  $ 0.20    at $ 22.41

Nutrien Ltd.———————up  $ 0.94    at $ 74.53

RB Global Inc.——————-up  $ 0.92    at $104.09

Farmers Edge Inc.—————-    $ 0.00    at $  0.345

(All figures are in Canadian dollars.)